European shares retreat after weak German data

lunes 7 de julio de 2014 06:28 GYT

* FTSEurofirst 300 down 0.3 pct, still near 6-1/2 year high

* Stock markets slip after weak German economic data

* Total, Sanofi fall after cautioning over results

By Sudip Kar-Gupta

LONDON, July 7 (Reuters) - European shares slipped on Monday after weak German economic data took the wind out of a rally that had pushed a leading regional index back near 6-1/2 year highs.

Some analysts said that while Europe's stock market rally could flatline in the near term, the longer-term outlook remained positive given steps taken by the European Central Bank to boost the region's economy.

The pan-European FTSEurofirst 300 index, which hit a 6-1/2 year high of 1,399.62 points in June, was down by 0.3 percent at 1,389.56 points by the middle of the trading day.

The euro zone's blue-chip Euro STOXX 50 index fell 0.4 percent to 3,2158.30 points, while Germany's DAX - which hit a record high in June - weakened by 0.2 percent.

European stock markets fell after German industrial output declined by 1.8 percent on the month in May, its biggest drop in more than two years, confounding expectations of unchanged industrial output in Europe's powerhouse.   Continuación...